M.D.C. Holdings, Inc. (NYSE:MDC – Get Rating) – Stock analysts at Zacks Research boosted their Q2 2023 earnings per share estimates for shares of M.D.C. in a report issued on Tuesday, May 16th. Zacks Research analyst S. Mukherjee now anticipates that the construction company will post earnings of $0.52 per share for the quarter, up from their previous estimate of $0.51. The consensus estimate for M.D.C.’s current full-year earnings is $3.23 per share. Zacks Research also issued estimates for M.D.C.’s Q3 2023 earnings at $0.65 EPS, Q4 2023 earnings at $0.70 EPS, Q1 2024 earnings at $0.74 EPS, Q3 2024 earnings at $0.85 EPS and Q1 2025 earnings at $0.80 EPS.
Several other equities analysts have also recently issued reports on the company. Wedbush restated a “neutral” rating on shares of M.D.C. in a research report on Tuesday, February 7th. StockNews.com started coverage on M.D.C. in a research report on Thursday. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on M.D.C. from $30.50 to $27.50 and set an “underweight” rating on the stock in a research report on Monday, March 6th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, M.D.C. has an average rating of “Hold” and a consensus target price of $27.50.
M.D.C. Stock Performance
M.D.C. (NYSE:MDC – Get Rating) last posted its earnings results on Tuesday, May 2nd. The construction company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.64. M.D.C. had a return on equity of 16.34% and a net margin of 8.99%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $887.13 million. During the same period in the previous year, the business earned $2.02 EPS. The business’s quarterly revenue was down 17.8% on a year-over-year basis.
Institutional Investors Weigh In On M.D.C.
A number of institutional investors and hedge funds have recently modified their holdings of MDC. CWM LLC lifted its stake in M.D.C. by 70.3% in the 3rd quarter. CWM LLC now owns 901 shares of the construction company’s stock valued at $25,000 after buying an additional 372 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in M.D.C. by 665.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 949 shares of the construction company’s stock valued at $30,000 after buying an additional 825 shares in the last quarter. Ronald Blue Trust Inc. lifted its stake in M.D.C. by 86.2% in the 1st quarter. Ronald Blue Trust Inc. now owns 1,311 shares of the construction company’s stock valued at $41,000 after buying an additional 607 shares in the last quarter. Versant Capital Management Inc lifted its stake in M.D.C. by 239.9% in the 1st quarter. Versant Capital Management Inc now owns 1,074 shares of the construction company’s stock valued at $42,000 after buying an additional 758 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in M.D.C. in the 1st quarter valued at approximately $72,000. Institutional investors and hedge funds own 82.21% of the company’s stock.
Insiders Place Their Bets
In other M.D.C. news, CFO Robert Nathaniel Martin sold 13,226 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $41.55, for a total transaction of $549,540.30. Following the transaction, the chief financial officer now owns 299,962 shares in the company, valued at approximately $12,463,421.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Robert Nathaniel Martin sold 13,226 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $41.55, for a total value of $549,540.30. Following the sale, the chief financial officer now owns 299,962 shares in the company, valued at approximately $12,463,421.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David E. Blackford sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $36.67, for a total value of $165,015.00. Following the completion of the sale, the director now owns 20,587 shares in the company, valued at approximately $754,925.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 337,609 shares of company stock worth $13,923,750. Company insiders own 23.30% of the company’s stock.
M.D.C. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.71%. The ex-dividend date is Tuesday, May 9th. M.D.C.’s payout ratio is 29.72%.
About M.D.C.
M.DC Holdings, Inc engages in proving homebuilding and financial services. It operates through the following business segments: West, Mountain, and East. The West segment includes operations in Arizona, California, Nevada, New Mexico, Oregon, Texas, and Washington. The Mountain segment refers to the operations in Colorado, Idaho, and Utah.
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